Business owners left wanting more after Budget

“The big news of the day from the Budget is undoubtedly the announcement of the Help to Buy scheme which is clearly a welcome move for the construction industry.

“Of course the announcement that businesses will get a £2,000 allowance before paying employer National Insurance contributions, will help those SMEs who want to grow to take on more staff.

“But that is not due to come in for another 12 months; in addition the Single Local Growth Fund that the Chancellor has accepted from Michael Heseltine’s report will not be open for business for another two years.

“We feel that many small and medium-sized enterprises will be asking, where is the help I need for my business today to support growth over the next 12 months? The support next year may simply be too late.

“In order for businesses to grow and take on more staff, they need the kind of funding that supports expansion now, which is flexible and specific to the needs of the business.

“Small firms need to be aware of all the funding options open to them and we would have hoped to see more emphasis on making that happen today, to help businesses secure their future.”